ARAY SA

The company's purpose is to acquire, sell, hold and manage interests in all types of commercial, financial, industrial and real estate companies and enterprises, both in Switzerland and abroad, in the sense of a holding company, as well as any other activity directly or indirectly related to the aforementioned purpose. The company may acquire, hold and dispose of all tangible and intangible assets. The company may participate in other enterprises and establish branches and subsidiaries, both in Switzerland and abroad. The company may grant loans to its shareholders and to third parties, act as guarantor for loans subscribed by shareholders or third parties, guarantee these loans by issuing or pledging mortgage securities or by subscribing to any other commitment, if this is in its interest.